The women’s fashion chain Pimkie has entered into exclusive sales negotiations. The French company owned by the Mulliez family holding company AFM is speaking to a consortium of Lee Cooper France, Kindy and Ibisler Tekstil companies.
“The joint proposal by these three groups was selected based on their financial and operational ability to rehabilitate, develop and secure the Pimkie brand over the long term,” said Philippe Favre, general manager of the brand, in a statement on Wednesday. which is currently still being completed, is scheduled to take place in early 2023.
Pimkie, which has 232 owned and 81 affiliated stores employing 1,500 people, reported sales of almost EUR 200 million in 2020. Founded in 1971, the brand has been in trouble for more than a decade. The process of finding a new buyer was initiated in May. The business in Germany, Spain and Portugal has already changed hands after branches were closed. Pimkie also withdrew from Switzerland.
The brand assures that all three prospects “have recognized expertise in the textile industry” and that their experiences “will allow the brand to continue its transformation and ensure its long-term survival in a highly competitive environment”.
“Employee interests were also taken into account in the selection,” said Mr Favre, a manager appointed in January who specializes in managing struggling companies. The brand has been hit by the textile crisis in France since the early 2000s many companies that once flourished in the clothing sector, such as André, La Halle or, most recently, Camaieu, have suffered (AFP)
This translated and edited post previously appeared on FashionUnited.fr.